Filing by Certain Investment Companies of Rule 482 Advertising in Accordance With Rule 497 and the Note to Rule 482(e) (497ad)
January 19 2022 - 4:06PM
Edgar (US Regulatory)
Filed Pursuant to Rule 497
File No. 333-256366
Rule 482ad
Saratoga Investment Corp. Announces Closing of Public
Offering of
$75 Million 4.35% Notes Due 2027
NEW YORK, NY (January 19, 2022)
– Saratoga Investment Corp. (NYSE: SAR) (the “Company”) today announced that
it has closed a public offering of $75.0 million aggregate principal amount of its 4.35% notes due 2027 (the
“Notes”), which resulted in net proceeds to the Company of approximately $72.7 million, based on a public offering
price of 99.317% of par, after deducting the underwriting discount and the estimated offering expenses payable by the Company. This
results in the Notes having a yield-to-maturity of approximately 4.50%.
The Notes will mature on February 28, 2027, and
may be redeemed in whole or in part at the Company’s option at any time prior to November 28, 2026, at par plus a “make-whole”
premium, and thereafter at par. The Notes will bear interest at a rate of 4.35% per year payable semi-annually on February 28 and August
28 of each year, beginning August 28, 2022.
Raymond James & Associates, Inc. served
as sole book-running manager for the offering. Compass Point Research & Trading, LLC, Hovde Group, LLC, Ladenburg Thalmann &
Co. Inc., Maxim Group LLC and Oppenheimer & Co. Inc. acted as co-managers for the offering. The Company intends to use the net proceeds
from the offering to make investments in middle-market companies (including investments made through its SBIC subsidiaries)
in accordance with its investment objective and strategies and for general corporate purposes.
Investors are advised to consider carefully
the investment objective, risks and charges and expenses of the Company before investing. The preliminary prospectus supplement dated
January 13, 2022 and the accompanying prospectus dated July 7, 2021, each of which has been filed with the Securities and Exchange Commission
(the “SEC”), contain a description of these matters and other important information about the Company and should be read carefully
before investing.
This press release does not constitute an offer
to sell or the solicitation of an offer to buy, nor will there be any sale of the Notes referred to in this press release, in any state
or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities
laws of such state or jurisdiction. A registration statement (File No. 333-256366) relating to the Notes was filed and has been declared
effective by the SEC.
This offering is being made solely by means
of a written prospectus forming part of the effective registration statement and a related preliminary prospectus supplement, which may
be obtained for free by visiting the SEC’s website at www.sec.gov or from Raymond James & Associates, Inc., 880
Carillon Parkway, St. Petersburg, Florida 33716, email: prospectus@raymondjames.com or by calling 800-248-8863.
About Saratoga Investment Corp.
Saratoga Investment Corp. is a specialty finance
company that provides customized financing solutions to U.S. middle-market businesses. The Company invests primarily in senior and unitranche
leveraged loans and mezzanine debt, and, to a lesser extent, equity to provide financing for change of ownership transactions, strategic
acquisitions, recapitalizations and growth initiatives in partnership with business owners, management teams and financial sponsors.
Saratoga Investment Corp.’s objective is to create attractive risk-adjusted returns by generating current income and long-term
capital appreciation from its debt and equity investments. Saratoga Investment Corp. has elected to be regulated as a business
development company under the Investment Company Act of 1940 and is externally-managed by Saratoga Investment Advisors, LLC, an SEC-registered
investment adviser focusing on credit-driven strategies. Saratoga Investment Corp. owns two SBIC-licensed subsidiaries and manages
a $650 million collateralized loan obligation (the “Saratoga CLO”) fund. It also owns 52% of the Class F and 100% of
the subordinated notes of the Saratoga CLO. The Company’s diverse funding sources, combined with a permanent capital base,
enable Saratoga Investment Corp. to provide a broad range of financing solutions.
FORWARD-LOOKING STATEMENTS
Statements included herein contain certain “forward-looking
statements” within the meaning of the federal securities laws, including statements with regard to the Company’s Notes offering
and the anticipated use of the net proceeds of the offering. Forward-looking statements can be identified by the use of forward looking
words such as “outlook,” “believes,” “expects,” “potential,” “continues,”
“may,” “will,” “should,” “seeks,” “approximately,” “predicts,”
“intends,” “plans,” “estimates,” “anticipates” or negative versions of those words, other
comparable words or other statements that do not relate to historical or factual matters. The forward-looking statements are based on
our beliefs, assumptions and expectations of future events and our future performance, taking into account all information currently available
to us. These statements are not guarantees of future events, performance, condition or results and involve a number of risks and uncertainties.
Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including but not
limited to the impact of the COVID-19 pandemic and the pandemic’s impact on the U.S. and global economy, as well as those described
from time to time in our filings with the SEC. Any forward-looking statement speaks only as of the date on which it is made. Saratoga
Investment Corp. undertakes no duty to update any forward-looking statements made herein, whether as a result of new information, future
developments or otherwise, except as required by law.
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Contact: Henri Steenkamp
Saratoga Investment Corp.
212-906-7800
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